Shareholders at UDC’s general assembly meeting last night. UDC has continued the streak of successes through 2014, chairman and managing director Turki al-Khater (right) said.

United Development Company (UDC) shareholders have approved a 12.5% cash dividend distribution at their general assembly meeting at the Al Gassar Resort last night.
At the meeting, UDC chairman and managing director Turki al-Khater gave a comprehensive overview of the company’s activities and financial results for 2014 along with its business plan for 2015.
“UDC has continued the streak of successes through 2014, where the total profit increased by 29.8% to reach QR1.1bn and net profit also climbed by 65.4% to QR676mn despite the fact we have increased spending on research and development for promising projects that carry a huge potential for the future,” al-Khater said.
“The successes UDC has been able to achieve over the past twelve months vindicate the commitment to innovation and opportunistic investment that was applied throughout 2014. Our strategic plan calls for each of our major businesses to contribute to our future success, and our company-wide strategy is focused on creating partnerships, achieving growth and minimising risks. This strategy provides UDC with a stronger profile going forward.”